Wellington Management Group LLP Acquires 162,374 Shares of Cactus, Inc. $WHD

Key Points

• Wellington Management Group LLP increased its stake in Cactus, Inc. (NYSE: WHD) by 12.1% in the 1st quarter, resulting in ownership of approximately 1.89% of the company, valued at $69.1 million.
• Cactus, Inc. reported earnings of $0.66 per share in its last quarterly results, which missed the anticipated estimate of $0.67, and its revenue decreased by 5.8% year-over-year.
• The company recently announced an increase to its quarterly dividend from $0.13 to $0.14, representing an annualized dividend yield of 1.3%.

Wellington Management Group LLP lifted its holdings in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,508,103 shares of the company's stock after purchasing an additional 162,374 shares during the quarter. Wellington Management Group LLP owned approximately 1.89% of Cactus worth $69,116,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. QSV Equity Investors LLC acquired a new position in shares of Cactus during the 1st quarter worth $1,009,000. Alliance Wealth Advisors LLC UT increased its stake in shares of Cactus by 2.7% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 15,472 shares of the company's stock worth $709,000 after purchasing an additional 412 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Cactus during the 1st quarter worth $526,000. Russell Investments Group Ltd. increased its stake in shares of Cactus by 20.3% during the 1st quarter. Russell Investments Group Ltd. now owns 30,229 shares of the company's stock worth $1,385,000 after purchasing an additional 5,105 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of Cactus by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 211,363 shares of the company's stock worth $9,687,000 after purchasing an additional 45,272 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

Analysts Set New Price Targets

WHD has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Barclays restated an "overweight" rating and set a $52.00 price target (down previously from $53.00) on shares of Cactus in a research note on Monday, August 4th. Stifel Nicolaus lowered their target price on shares of Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Finally, Wall Street Zen lowered shares of Cactus from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $50.75.

Cactus Stock Performance

NYSE WHD traded down $0.29 during midday trading on Thursday, hitting $41.45. The company had a trading volume of 102,480 shares, compared to its average volume of 712,782. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 3.83 and a beta of 1.48. The firm has a fifty day simple moving average of $43.02 and a two-hundred day simple moving average of $44.39. Cactus, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $273.58 million during the quarter, compared to analyst estimates of $280.28 million. Cactus had a return on equity of 17.34% and a net margin of 16.19%.The business's revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 earnings per share. Equities analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from Cactus's previous quarterly dividend of $0.13. Cactus's payout ratio is 21.13%.

Cactus Company Profile

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers.